World Trade Organization members must shore up and strengthen the global trade body, China and the European Union said at the opening of the WTO’s ministerial conference on Monday.
“Let us join hands and take real actions to uphold the authority and efficacy of the WTO,” Chinese Minister of Commerce Zhong Shan and told the WTO, which has been pushed into crisis by a U.S. veto of new judges for trade disputes.
“We need to have a clear objective in mind,” European Trade Commissioner Cecilia Malmstrom said. “For the European Union, this is clear: to preserve and to strengthen the rules-based multilateral trading system.”
Source: Reuters (Reporting by Luc Cohen and Tom Miles; Editing by Alison Williams)